Franklin Electric (FELE) Stock Rating Lowered by ValuEngine

Franklin Electric (NASDAQ:FELE) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, ValuEngine reports.

A number of other research firms have also commented on FELE. Zacks Investment Research lowered Franklin Electric from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Boenning Scattergood lowered Franklin Electric from an “outperform” rating to a “neutral” rating in a research report on Tuesday. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Franklin Electric currently has an average rating of “Hold” and a consensus price target of $52.00.

FELE opened at $46.02 on Wednesday. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 4.30 and a beta of 1.37. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.27 and a quick ratio of 1.04. Franklin Electric has a one year low of $38.87 and a one year high of $55.59.

Franklin Electric (NASDAQ:FELE) last released its quarterly earnings results on Tuesday, April 23rd. The industrial products company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.19). The business had revenue of $290.70 million for the quarter, compared to the consensus estimate of $304.61 million. Franklin Electric had a net margin of 8.16% and a return on equity of 14.72%. The company’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. Equities research analysts forecast that Franklin Electric will post 2.4 EPS for the current fiscal year.

In other news, VP Donald P. Kenney sold 1,500 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $52.14, for a total value of $78,210.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Delancey W. Davis sold 2,705 shares of the stock in a transaction that occurred on Thursday, February 28th. The stock was sold at an average price of $53.75, for a total value of $145,393.75. Following the completion of the transaction, the insider now directly owns 21,349 shares of the company’s stock, valued at approximately $1,147,508.75. The disclosure for this sale can be found here. Insiders sold a total of 13,090 shares of company stock valued at $706,639 in the last three months. Corporate insiders own 2.88% of the company’s stock.

Large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Franklin Electric in the 1st quarter worth approximately $64,000. LS Investment Advisors LLC grew its stake in shares of Franklin Electric by 166.4% in the 4th quarter. LS Investment Advisors LLC now owns 3,210 shares of the industrial products company’s stock worth $138,000 after buying an additional 2,005 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Franklin Electric by 7.3% in the 4th quarter. Bank of Montreal Can now owns 3,322 shares of the industrial products company’s stock worth $143,000 after buying an additional 226 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Franklin Electric by 24.9% in the 4th quarter. Hsbc Holdings PLC now owns 5,593 shares of the industrial products company’s stock worth $240,000 after buying an additional 1,114 shares during the last quarter. Finally, Magnus Financial Group LLC purchased a new stake in shares of Franklin Electric in the 4th quarter worth approximately $245,000. 78.53% of the stock is owned by hedge funds and other institutional investors.

About Franklin Electric

Franklin Electric Co, Inc, together with its subsidiaries, designs, manufactures, and distributes water and fuel pumping systems worldwide. It operates in three segments: Water Systems, Fueling Systems, and Distribution. The Water Systems segment offers submersible motors, pumps, drives, electronic controls, monitoring devices, and related parts and equipment.

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